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[NoLimits15]

Hong Kong will start regulating all crypto trading platforms in the country from now on which means the platforms will need to apply for an official license issued by the SFC. Hong Kong is trying to solve its money laundering problem, and this is why they want to issue licenses to crypto trading platforms. OSL Digital Securities have already applied for a license and other platforms are doing the same...

 

[Wisdom01]

Its good that they are regulating it so that there wont be any form scam crypto platform because the rate of crypto scams is increasing daily

 

[bitforex22]

After this , I think there should be a complete testing of the exchanges first for the security and some reserve amounts should be collected in case of hack the amount could be used to pay the people suffered

 

[Wisdom01]

After this , I think there should be a complete testing of the exchanges first for the security and some reserve amounts should be collected in case of hack the amount could be used to pay the people suffered

Lol how would they start testing them because even with strong security system hackers still penetrate and do what they want to do

 

[bitforex22]

well a minimum of safety standards could be deployed and only after passing the standards organization could get a license , so users can have better trust on the exchanges

 

[Wisdom01]

well a minimum of safety standards could be deployed and only after passing the standards organization could get a license , so users can have better trust on the exchanges

Okay yeah it can be if only through the means you have just listed because those exchange sites might fail the security rating and standard

 

[Brain]

Hong Kong will start regulating all crypto trading platforms in the country from now on which means the platforms will need to apply for an official license issued by the SFC. Hong Kong is trying to solve its money laundering problem, and this is why they want to issue licenses to crypto trading platforms. OSL Digital Securities have already applied for a license and other platforms are doing the same...

Splendid idea here, the should be a regulation for all crypto platforms to limit any kind of fraud that will emanate from them. This is the way to go.

 

[sixseight]

They said it to counter Money laundering which is a good reason, but in reality i think they just cant leave their people alone, ban this and ban that, it's sad for our friend who live there.

 

[Wisdom01]

They said it to counter Money laundering which is a good reason, but in reality i think they just cant leave their people alone, ban this and ban that, it's sad for our friend who live there.

They are regulating it for the good of the people because those exchange sites really have a very low security rating so they need to regulate them

 

[sixseight]

They are regulating it for the good of the people because those exchange sites really have a very low security rating so they need to regulate them

Well if that's the case then it's a great move, i thought they limit and ban those trading company cause ithey want to limit the freedom of their citizens

 

[Wisdom01]

Well if that's the case then it's a great move, i thought they limit and ban those trading company cause ithey want to limit the freedom of their citizens

The only time they want to limit the freedom of the citizen is when they ban the use of bitcoin that is when i will say they are not doing the right thing at all

 

[Treasure_lass]

It is very necessary to regulate all Cryptocurrency trading platforms in order breach money laundering activities in the country. SFC is doing a great job to make all trading platforms to get license, license gives any trading platform edge to trade more comfortably and secure without any fraudulent activities suspected.

Yeah it's kinda cool if you ask me...

 

[luanbryanrocks]

That's a pretty good newws! I hope all the countries do the same

 

[ELSA-ELI]

Hong Kong will start regulating all crypto trading platforms in the country from now on which means the platforms will need to apply for an official license issued by the SFC. Hong Kong is trying to solve its money laundering problem, and this is why they want to issue licenses to crypto trading platforms. OSL Digital Securities have already applied for a license and other platforms are doing the same...

Sounds like a good mob as long as it does not impose stringent prerequisite that will not be easy to comprehend with by the crypto trading platforms but rather a through process that will protect the interest of the end user,the government and the trading platforms respectively.

 

[Niftyicon]

This is the step that all countries into crypto use should take. These regulations will keep exchanges at the standard they ought to maintain.

 

[BullyMaguire]

Yep, another country doing this to get money from crypto users,yet they still haven't fully accepted Cryptocurrencies and they wanted to gain tax from it. Kinda sucks

 

[BullyMaguire]

But i guess it will happen sooner or later, this is another step Cryptocurrency needs to take in order to get accepted and starts circulating freely everywhere. Because people who have doubts will gain more security.

 

[achawaskey]

It is good at least there will be security in all your dealings and I hope some countries will join.

 

[Niftyicon]

But i guess it will happen sooner or later, this is another step Cryptocurrency needs to take in order to get accepted and starts circulating freely everywhere. Because people who have doubts will gain more security.

You made a very valuable observation I must say. Regulation of Cryptos and the exchanges will surely give a sense of security and authenticity to it. This will help those who are still very reluctant.

 

[bitforex22]

Agree with your words if everything is state regulated and people are allowed to buy sell and trade while even paying a little tax its fine enough to be honest